Study Loan in Odisha


The Odisha government has launched a scheme for students who are willing to pursue higher studies. It is called the Kalinga Sikhya Sathi Yojana and was established by Odisha Chief Minister Naveen Patnaik.

This scheme provides education loan at just 1% interest. The students can avail of this loan if they are from poor families and their family income is less than 6 lakh per year.

Kalinga Sikhya Sathi Yojana

Many students in Odisha are willing to pursue higher education but are unable to do so due to financial constraints. To help such students, the Government of Odisha launched a new scheme called Kalinga Sikhya Sathi Yojana (KSSY) on 27th June 2016. The program provides loans to students for higher studies. This program is a great way to reduce the burden on students and their parents, especially those from low-income families.

This program is available to students who are pursuing professional courses from UGC/AICTE-approved institutions in Odisha, including medicine, engineering, law, and management. The government will cover the interest on these loans so students can focus on their education without worrying about their finances. The government also offers a moratorium period so students can take the time to repay their loans.

To apply for this scheme, students must visit the official website of the Higher Education Department of the Odisha Government. On the home page, click the “Kalinga Sikhya Sathi Yojana” link and then click “Student login.” Then, fill out important details like name, email ID, password, and captcha code and click on submit. Once you have logged in, you can download your application form and print it for future reference.

Students who wish to apply for this scheme must have solid evidence of residential proof of the state of Odisha and a family income that does not exceed Rs 8 lakh per annum. In addition, they must have a valid Aadhaar card and the last passing mark sheet of school. Other documents that may be required include a passport-size photo, a birth certificate, and bank details.

The benefits of this scheme are clear: It will allow students to pursue their dreams without having to worry about money. This will alleviate the financial strain on students and their parents and will improve the literacy rate in the state. It will also create more jobs, which will benefit Odisha’s economy. The government has already approved the funds for this program and will continue to allocate funds until it reaches its target of providing educational loans to 10,000 students.


The government of Odisha has launched a new education loan scheme to help students pay for higher studies. This scheme is dedicated to former Chief Minister Biju Patnaik and aims to reduce the burden of debt for students from poor families. Those interested in applying for the loan should visit their nearest bank branch. They should bring the necessary documents, such as proof of identity, proof of income, and a residential certificate. Once the application has been approved, the bank will disburse the loan to the student’s account.

Eligible candidates must be residents of Odisha, and their annual family income must be less than Rs 6 lakh. They must also have secured admission to a recognized university in India or abroad. Additionally, they must be enrolled in a course that leads to a bachelor’s or master’s degree. The loan amount is based on the cost of tuition, accommodation, and living expenses.

In addition to the loan amount, eligible candidates may also receive interest subvention* during the repayment period. This is a financial assistance program where the government subsidizes the interest on the loan.

A study loan is a type of personal loan that is given to high-achieving students to cover the costs of their higher education in universities and other educational institutes in India and abroad. Banks and other private lenders offer these loans, and the terms and conditions vary depending on the lender. Some lenders offer low-interest rates and flexible repayment periods, while others may require collateral or a good credit history.

The loan can be used to pay for tuition fees, travel expenses, book expenses, and other related costs. It can also be used to purchase computers and other equipment needed for the student’s studies. However, the total amount that a student can borrow is limited by the bank’s policies and regulations. In some cases, a student may be eligible for an additional grant from the state or another source, such as scholarships and fellowships. In such cases, the additional amount will be deducted from the total loan amount.

Documents required

Education loans are advances that help students cover the costs of their higher education. These loans are available from banks and financial institutions in India. They offer low interest rates and flexible repayment terms. You can apply for an education loan by visiting a bank branch and submitting the required documents. The application process is quick and easy, and you may not even need a co-applicant. Depending on the type of course you are pursuing, you may also need to provide collateral or a guarantor to secure your loan.

The minimum amount of loan a student can avail of under this scheme is Rs. 4 lakh. In addition to this, students can have a holiday period for up to two years. During this time, they will not be required to make any payments on their loans. This will give them a chance to find employment before beginning their loan repayments.

To be eligible for this loan, a student must be a resident of Odisha and have an annual family income of less than INR 6,00,000. The loan must be used for management, integrated law, engineering, or medicine courses at educational institutes recognized by the University Grants Commission or All India Council for Technical Education. Students will also be eligible for interest subvention* under this scheme.

To calculate your Education Loan EMI, you can use the calculator on the Bank of India website. This will allow you to determine how much your monthly payment will be based on the loan amount, rate of interest, and repayment term. You can also visit your local bank branch to speak with a finance professional and get all of the information you need.

Interest rate

The interest rate for a study loan will vary depending on the type of loan and the bank. Some loans have fixed interest rates that remain the same for the duration of repayment, while others have variable interest rates that are linked to market conditions and the one-year Marginal Cost of Funds Lending Rate (MCLR). If you’re considering taking out a student loan, make sure to understand the terms and conditions.

The Kalinga Sikhya Sathi Yojana is a new education scheme that offers a low interest rate to students pursuing higher studies. Odisha Chief Minister Naveen Patnaik launched the scheme, which aims to reduce the burden of students in the state. This is an excellent scheme for students who want to pursue higher studies in fields like engineering, management, medicine, and law.

To qualify for this loan, the applicant must be a citizen of India. He or she must have a valid passport and proof of citizenship. The student must also be a resident of Odisha. In addition, the student’s family income must not exceed Rs 6 lakh per year.

Another critical factor is the duration of the course. If the student plans to take a course that will last more than three years, then the moratorium period may be extended. Otherwise, the loan must be repaid within one year after the completion of the course.

In order to get the best interest rate, it is necessary to decide how long you want to take out the loan and what kind of course you are going to pursue. Some lenders will start collecting interest from the time of dispersal, while others will wait until the end of the moratorium period. Choosing the right type of loan will help you save money in the long run.

There are many ways to apply for a study loan, including online. However, it’s essential to choose a lender that provides excellent customer service and will work with you through the entire process. For instance, if you need to change your course of study or have any other issues, the WeMakeScholars team will be able to assist you.